Businesses Rank Civil Unrest as Top Risk as Global Political Tensions Escalate

Businesses worldwide are increasingly concerned about the growing threat of civil unrest, with 51% of companies identifying it as their top political risk, according to Allianz Commercial’s latest political violence and risk report. The report highlights that since 2017, over 800 significant anti-government protests have occurred across more than 150 countries, with 2024 seeing particularly high activity in India, the United States, and France.

The impact on businesses ranges from direct property damage to prolonged operational disruption, especially for retail, transportation, tourism, and critical infrastructure sectors. In addition to civil unrest, the report flags terrorism, state-sponsored sabotage, and environmental activism as expanding risk factors. Terrorist attacks increased notably in Western countries, while Russian state-sponsored sabotage incidents in Europe tripled in 2024.

Cyber threats, particularly from state-backed actors, are also on the rise, targeting critical infrastructure and amplifying unrest through disinformation campaigns. Environmental activism has become more confrontational amid growing climate concerns, with a 120% surge in incidents between 2022 and 2023. Allianz warns that political violence events are uniquely unpredictable, posing complex challenges for business continuity planning and insurance coverage.